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Over the years there has been a phenomenal with cryptocurrencies listed on Coinbase. Coinbase is regarded as one of the most prestigious cryptocurrency exchanges in the world. As such, any cryptocurrency that has the privilege to be listed has seen a phenomenal change. Now, Tezos holders have had the privilege. <a href="https://www.fxstreet.com/cryptocurrencies/news/tezos-xtz-latest-to-be-supported-by-coinbase-201907301745">Coinbase has announced</a> it will be supporting the altcoin on all of its platforms. For many of its holders, they are hoping that the Coinbase magic still lives on and the next few days sees the asset skyrocket. For the rest of the market, this could be an opportunity for the market to get back to the upward trend triggered by Tezos.
<h3>Coinbase: The Google Of Cryptocurrencies</h3>
Coinbase is one of the largest cryptocurrency exchanges in the world. It is located in the U.S where it boasts of the highest user base. Much os its dominance has come from great leadership as the company is headed by Brian Armstrong. He is one of the most influential characters in the industry and a listed Fortune's 40 under 40. He was famously stated that Coibase could become the Google of crypto and in some sense, he has achieved this.

Over the years, any project associated with the exchange has gained much recognition and seen prices skyrocket. This was the case for Cardano, RIpple's XRP, Ethereum Classic, Bitcoin Cash and Litecoin. Following the much success seen after the listing of these coins, the positive effect was dubbed the Coinbase effect. It was widely known that any coin listed on the platform would over the next couple of days, months and even years become immensely successful.

However, the exchange now faces its toughest test with Tezos. This is because several things have changed since the exchange listed a new coin on its platform.
<h3>Reasons That Could Hinder The Coinbase Effect</h3>
One main aspect is that the exchange is no longer as dominant as it was a few months or years ago. In the last year or so there has been a stipe competition in exchanges. Binance has been emerging as the winner having the highest trading volume. It would appear that <a href="https://www.cryptoknowmics.com/crypto/analyst-explains-how-binance-launch-in-the-u-s-will-hurt-altcoins-urges-traders-to-buy-bitcoin/">Binance exchange,</a> led by the outspoken Changpeng Zhao calls the shots now. Unlike in the past years, getting listed on Coinbase could not be as prestigious as it used to be.

The second reason is the current bear market. <a href="https://www.cryptoknowmics.com/crypto/peter-brandt-95-of-altcoins-will-die-but-litecoin-and-monero-have-a-chance/">Altcoins have in the past few months been suffering</a> in the wrath of Bitcoin's dominance and this could see Tezos struggle to rally despite the positive news.
<h3>Positive Change For Tezos</h3>
By getting listed by Coinbase, the digital asset, and its project receive credibility, higher market, and exposure. Although prices might not reflect these immediately, it will go a long way in boosting future success.

Coinbase Announces Support For Tezos, Can We Expect The 'Coinbase Effect'?

Coinbase has announced that it will begin supporting Tezos (XTZ) on all its platforms. Will this see Tezos skyrocket, and possibly trigger the altseason?

John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

Coinbase Announces Support For Tezos, Can We Expect The 'Coinbase Effect'?

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